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The IGNOU Employees Co-operative Thrift & Credit Society Ltd. is functioning since 1991 for the benefit of Employee-Members of the society with the approval of IGNOU Authorities under Registration No. 795 (U) dated 06th May, 1991 registered with Office of the Registrar Co-operative Societies, NCT Delhi, Parliament Street, New Delhi 110 001.
All regular employees of IGNOU can become Society Member subject to condition that they should have completed more than one year regular service in IGNOU. The eligible employees can download the New Membership form from the Society Members Portal and filled-in form may be sent to the President or Secretary of the Society.
After a cap of 06 months of service as the Society Member only, she/he is eligible to get loan(s) from the Society.
Presently, the Managing Committee of the Society is holding monthly meetings on 5th of the every month and sanctioning loan(s) (Ordinary Loan upto Rs. 1,50,000/- maximum in 40 installments, Special Loan upto Rs. 3,00,000/- maximum in 60 installments and Emergency Loan Rs. 25,000/- maximum in 10 installments on simple interest @ 8% p.a.) to eligible members of the Society as per their repaying capacity. The Society is also sanctioning loan to its Members for the purpose of IPD in emergency cases.
The Society will provide the monthly demand list by 15th of each month to Salary Section, F&A Division to make recovery of Society dues from the salaries of respective HQ employee-members and in turn the society is being received a consolidated cheque from F&A in the first week of following month regularly. The same practice is being continued for the employees members of Regional Centre Staff and we have taken further more steps to improve the financial position and proper receipt of society dues from Regional Centres by requesting them to send through RTGS mode directly to Societys PNB SB Account No. 2257000100023408 IFSC Code: PUNB0225700, Branch Code: 225700 every month to avoid misplacement of draft/cheques and most of the Regional Centres are sending the society dues through RTGS mode:
In every October/November month, on occasion of Deepawali festival, the Managing Committee of the Society with declare the Divident after deducting all expenditures along with other mandatory deductions made from the Total Profit and transfer/distribute the Dividend amount to all eligible employee members of the Society based on their Share Money laying with the Society as on 31st March every year.
For & on behalf of the IGNOU Employees Cooperative Thrift & Credit Society Limited
Sh. Ved Prakash (President)
Sh. PVSS Satyanarayana (Vice-President)
Sh. Rajiv Chadha (Secretary)
Sh. Rajesh Kumar (Treasurer)
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